KKR sells 27% stake in Max Healthcare Institute for over Rs 9,100

NEW DELHI: Large US private equity firm KKR on Tuesday sold a 27% stake in the hospital chain Max Healthcare Institute for Rs 9,185 crore through open market transactions. Shares were selected by a range of institutions, including the Government of Singapore, Monetary Authority of Singapore, Smaller Cap World Fund Inc, New World Fund Inc, WF Asian Smaller Enterprises Fund Ltd and BNP Paribas Arbitrage.
According to block transaction data with BSE, KKR, through its affiliate Kayak Investments Holding Pte. Ltd, sold a total of 26,01,96,762 shares, representing 27% of the company’s shares.
Shares have been discounted at an average price of Rs 353 per unit, valuing the transactions at Rs 9,184.94.
Shares of Max Healthcare rose about 10% to Rs 396.70 per unit on BSE. During the intraday session, the index hit a high of Rs 404.6 and a low of Rs 353.
KKR divested Max Healthcare a year ago. Their shares in the company decreased to 27.54% shares at the end of June 2022 from 47.24% shares at the end of June 2021.
In 2018, KKR-backed hospital management company Radiant Life Care announced a layered deal to eventually acquire a majority stake in Max Healthcare Institute.

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